Money and Finance
- Far From Wall Street And Silicon Valley, A Focus On Family Ties
When the hedge fund manager David Einhorn was just another investment analyst in the mid-1990s, his family gave him $500,000 to get his fund, Greenlight Capital, off the ground. Now that he is a billionaire after a career of doing battle with large corporations,...
- David Einhorn Tells His Side Of The Story On The Fsa's Insider Trading Fine
Prominent hedge fund manager David Einhorn, who is known for seeing problems at Lehman Brothers and publicly shorting the stock prior to the bank's demise, was fined yesterday by the U.K. Financial Services Authority. Einhorn and his fund Greenlight...
- An Inside Look At David Einhorn's "big Short"
Hedge fund manager David Einhorn is taking an even harder line against Green Mountain Coffee Roasters (GMCR.O), his big short trade, claiming a recent audit committee review of the accounting issues he flagged is nothing more than a "whitewash." In an...
- Motley Fool Interview With David Einhorn
Thanks to Matt for passing this along.David Einhorn is the president of Greenlight Capital and the author of Fooling Some of the People All of the Time, a compelling account of his battle with Allied Capital (NYSE: AFC). Einhorn also presciently called...
- David Einhorn Speech - "accounting Ingenuity"
Ira W. Sohn Investment Research Conference David Einhorn, Greenlight Capital, “Accounting Ingenuity” May 21, 2008-I appeared at this conference six years ago and joked that my wife, while trying to help me prepare my presentation of the Allied Capital...
Money and Finance
The Confidence Man
Six years ago, hedge-fund manager David Einhorn made a speech at an annual investment conference about a stock he didn’t like—a mid-cap financial company called Allied Capital—and the world came crashing down on top of him. He was investigated by the Securities and Exchange Commission for conspiring with other investors to sink the stock. Allied stole his personal phone records in an attempt to prove the conspiracy. An article in The Wall Street Journal compared his treatment of Allied to “a mugging.” New York’s then–Attorney General, Eliot Spitzer, vowed to do his own investigation. And Einhorn’s wife, an editor at the financial weekly Barron’s, mysteriously lost her job.
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The repercussions of that one speech dragged on for years, an experience that would have embittered most people, or at least have made them back off. But Einhorn kept digging at the company, ultimately finding evidence of fraud that made his initial report seem tame. Then Einhorn took a very unusual step for a hedge-fund manager, most of whom would rather you didn’t know their names, much less how they run their businesses. He wrote a very candid and illuminating book about his firm, Greenlight Capital, and the complete Allied ordeal. The purpose, he says, was not to become famous or to settle scores; it was to tell people that he had been right all along. He wanted them to see the Allied story as having a “bigger meaning”—that the political, financial, and media Establishments can, and do, conspire to quash truth-telling.
The repercussions of that one speech dragged on for years, an experience that would have embittered most people, or at least have made them back off. But Einhorn kept digging at the company, ultimately finding evidence of fraud that made his initial report seem tame. Then Einhorn took a very unusual step for a hedge-fund manager, most of whom would rather you didn’t know their names, much less how they run their businesses. He wrote a very candid and illuminating book about his firm, Greenlight Capital, and the complete Allied ordeal. The purpose, he says, was not to become famous or to settle scores; it was to tell people that he had been right all along. He wanted them to see the Allied story as having a “bigger meaning”—that the political, financial, and media Establishments can, and do, conspire to quash truth-telling.
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Book: Fooling Some of the People All of the Time: A Long Short Story By David Einhorn
- Far From Wall Street And Silicon Valley, A Focus On Family Ties
When the hedge fund manager David Einhorn was just another investment analyst in the mid-1990s, his family gave him $500,000 to get his fund, Greenlight Capital, off the ground. Now that he is a billionaire after a career of doing battle with large corporations,...
- David Einhorn Tells His Side Of The Story On The Fsa's Insider Trading Fine
Prominent hedge fund manager David Einhorn, who is known for seeing problems at Lehman Brothers and publicly shorting the stock prior to the bank's demise, was fined yesterday by the U.K. Financial Services Authority. Einhorn and his fund Greenlight...
- An Inside Look At David Einhorn's "big Short"
Hedge fund manager David Einhorn is taking an even harder line against Green Mountain Coffee Roasters (GMCR.O), his big short trade, claiming a recent audit committee review of the accounting issues he flagged is nothing more than a "whitewash." In an...
- Motley Fool Interview With David Einhorn
Thanks to Matt for passing this along.David Einhorn is the president of Greenlight Capital and the author of Fooling Some of the People All of the Time, a compelling account of his battle with Allied Capital (NYSE: AFC). Einhorn also presciently called...
- David Einhorn Speech - "accounting Ingenuity"
Ira W. Sohn Investment Research Conference David Einhorn, Greenlight Capital, “Accounting Ingenuity” May 21, 2008-I appeared at this conference six years ago and joked that my wife, while trying to help me prepare my presentation of the Allied Capital...